Lloyds of London tower sold for £260m to Chinese insurer

Chinese insurer Ping An has purchased the iconic Lloyds of London tower for £260m from a German fund managed by Commerz Real.

While the buyer was not named, Reuters sources indicate that Ping An was the buyer. As rules that prevented Chinese companies investing in overseas real estate have been relaxed, this is is expected to be just one of many purchases to come in the City.